The Zhitong Finance App learned that United Energy Group (00467) rose more than 7% in early trading. As of press release, it had risen 7.14% to HK$0.9, with a turnover of HK$187.747 million.

According to the news, CMB International released a research report saying that to give United Energy Group a “buy” rating, considering strong operating cash flow and maintaining a dividend rate above 50%, the dividend rate is expected to reach 9% in 2022, with a target price of HK$1.4. The bank expects the group's production growth to accelerate in 2022-24, mainly due to rapid production growth in Iraq's nine regions, offsetting the slowdown in production in mature regions of Pakistan and Egypt. Based on the above production growth and the assumption that oil and gas prices will rise 28% year over year, net profit for this year is predicted to increase 83% year over year.